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Hyperloop is a little closer to reality – Hyperloop Tech raised $26 million and closing in on $80 million round

hyperloop vacuumHyperloop Tech announced today the closing of $26 million in convertible note financing, which is part of a $80 million Series B round the company is trying to close by the end of year. Recently appointed CEO Rob Lloyd made the announcement with co-founders Brogan BamBrogan and  Shervin Pishevar at the 2015 Web Summit in Dublin earlier today. Pishevar contributed to the Series B financing round through his Sherpa Capital fund along with every other investors from the Series A: Formation8, Caspian Venture Capital, Zhen Capital and other individual investors.

With the second round of financing, the company added Khosla Ventures, Billionaire Vinod Khosla’s fund, to its list of high-profile investors.

Hyperloop tech is a startup located in Los Angeles trying to make a reality of Elon Musk’s vision for a new mode of transport through low-pressure tubes capable of moving pods containing cargo or people at high speeds.

If you want to learn more about Hyperloop Tech, I suggest reading our recent coverage of the company:

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